In long-run competitive equilibrium product price equals, Business Economics

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In long-run competitive equilibrium product price equals

Write a small paragraph (2 or 3 sentences) to explain each of your answers

In long-run competitive equilibrium, product price equals long-run average cost and also equals long-run marginal cost. Thus, economic profit equals $0. Please explain why firms have not incentive to exit the industry.

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Business Economics: In long-run competitive equilibrium product price equals

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Business Economics: In long-run competitive equilibrium product price equals

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